Japan approves economic sanctions against Iran

Move comes after UN pressure to freeze Iranian assets in fourth round of sanctions meant to prevent Teheran from developing nuclear weapons.

September 3, 2010 09:43
1 minute read.
Iranian technicians at Bushehr nuclear power plant

Iran Reactor 311. (photo credit: Associated Press)

Japan approved fresh economic sanctions against Iran on Friday after the United Nations asked Tokyo to tighten restrictions against Teheran over its controversial nuclear enrichment program, an official said.

The measures approved by the Cabinet of Prime Minister Naoto Kan include an asset freeze on 88 entities, 15 banks and 24 individuals, trade ministry official Hideaki Fujisawa said. Japan had previously frozen assets on 75 entities and 41 individuals.

The individuals are also banned from entering Japan, Fujisawa said.

The United Nations approved a fourth round of sanctions against Iran in early June over accusations that Teheran is seeking to develop atomic weapons. Iran denies its nuclear program is militaristic in nature and says it has a right to conduct uranium enrichment for peaceful purposes.

Along with the UN, the United States and European Union recently imposed separate penalties against Iran.

Japan's latest sanctions came after the United Nations asked Tokyo to take punitive measures against Iran, Fujisawa said.

While Japan's new sanctions called for tighter supervision of bilateral financial transactions, the measures stopped short of curtailing Japan's crude oil imports from Iran. Iran is the third-biggest crude oil supplier to Japan.

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